For a $5 trillion economy, India must embrace cutting-edge tech

News Snapshot:

The Indian economy is on the threshold of crossing another milestone and becoming the fourth-largest in the world. It is a commendable achievement for a country that began its journey as an independent nation in 1947 with a meagre $33-billion economy. Decades of British exploitation left it significantly weakened and poor. The Jawaharlal Nehru government’s Soviet-style central planning, while promoting heavy industries and the public sector, led to low economic growth of 3-4 per cent, pejoratively described as the “Hindu rate of growth”. In 40 years, it could only reach the $266 billion mark. The first major leap came in...